Thungela Resources (LON:TGA) Shares Down 10.4% – Time to Sell?

Thungela Resources Limited (LON:TGA) shares dropped 10.4% on Wednesday . The stock traded as low as GBX 664 and last traded at GBX 673. Approximately 1,463,442 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 792,608 shares. The stock had previously closed at GBX 751.

Thungela Resources Price Performance

The company has a quick ratio of 3.53, a current ratio of 1.73 and a debt-to-equity ratio of 0.54. The firm’s 50 day simple moving average is GBX 608.99 and its 200 day simple moving average is GBX 468.89. The company has a market capitalization of £842.74 million, a PE ratio of -0.12 and a beta of -0.87.

Thungela Resources Company Profile

Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia. It owns interests in and produces its thermal coal from mining operations, consisting of underground and open cast mines in the Mpumalanga province of South Africa, including including Goedehoop colliery, Greenside colliery, Isibonelo colliery, Khwezela colliery, Zibulo colliery, Mafube colliery, and Rietvlei colliery. It also holds 85% of the Ensham Mine located in Queensland, Australia.